✔️ Information reviewed and updated in May 2024 by Pedro Martínez González
In this section, updated for the year 2022, we will try to express it in a simple way and without many details, in broad strokes, thus, it is easier to understand what a broker is and how it works.
We begin, simply speaking, a broker is basically the intermediary between you and the markets ☑️. So a broker, when you place an order in the market (say for example, you want to invest $ 1000 in Apple shares), the broker places it in the market for you, it's that simple.
So maybe you should think of a broker as your bank account, for example, only YOU have access to that account, unless it is a managed account, there some things vary. Although it is worth mentioning that in general, with the majority of regulated brokers (due to a good regulation), the management of accounts by the broker is prohibited, due to a conflict of interest.
So today, with most brokers, one can start with them online, the brokers are located all over the world. It is as simple as going to the website of a broker that you like, and registering. Always remember to choose a good regulated broker, here is an article about how to know if a broker is regulated or not.
Usually the broker will ask you for some documents or similar to verify your identity. Once they approve this identity verification process, you will be able to fund your account. There are different methods to do this: debit card, credit card, bank transfer, Paypal, Skrill, Neteller, and other payment processors. After that, you configure everything, and you are ready to go!
So, when you are already determined to make a move, you will do it on the platform with which the broker works. Some brokers have their own platform, although in most cases they use platforms to invest.
➡️ The broker's profit ⬅️
One will always lose a little money for each transaction, and that little money is called a spread, and it is the profit margin of a broker, it is like a fee, a charge.
Usually the spread is where the broker's profit comes from, the broker charges a small commission for each instrument traded. Now, something very interesting about brokers is that today spreads are much more competitive than ever, due to the internet and today's technology, and due to the competition between brokers, which favors us with lower spreads.
➡️ Platforms to invest ⬅️
The most popular in our opinion is the MT4 (MetaTrader 4) or MT5, although there are many, some others widely used are: cTrader, NinjaTrader, Sirix and a few others. In our opinion, the most comfortable platform is the MT4, although it may be because we have become used to it.
➡️ And then, which broker should I choose? ⬅️
Well, we recommend a broker with a track record and regulated, we also invite you to read our section with different tips for selecting a recommended broker.
If you have any questions with a particular broker, you can leave us a message through our contact section.
➡️ Is my money safe? ⬅️
Yes, your money is safe, like when you open a bank account, you had to provide certain information, and usually you will be the only one with access to withdraw that money, no one else. Maybe other people have access to your account to make movements on your part, there are also ways to have a managed account, but again, if we talk about withdrawals, you are the only one who can make them. We also recommend you read our section on Scam Brokers, how to recognize them and in general, the measures you should take to avoid being scammed.
Would you like to read other of our educational sections? ☑️ We invite you to visit our educational section, with all our articles, guides and resources related to brokers and the world of investments.
For any questions or suggestions, you can leave us a comment in this same section.
HELLO EVERYONE: I started to get to know the wexnessbanc platform at the insistence of the interlocutor of the platform, enter 90 euros in a couple of months my benefits amounted to 9.500 euros I proposed to my broker VICTORIA SANTANDER the withdrawal of a part of the benefits specifically 1.000 euros, his answer was that it is only possible to fully withdraw the benefits and that it is necessary to advance to the platform 1.000 euros to pay a tax in GERMANY and that later they would send me the 9.500 euros I have told victoria santander that in The conditions published by the platform say that all the fees that can be established for the withdrawal of funds will be discounted from these. VICTORIA has answered me that without sending them the 1000 euros of the tax it is impossible to transfer the benefits. I have asked VICTORIA to withdraw my contribution to the platform since these conditions are not published and she has replied that my contribution of 90 euros is frozen indefinitely and that it is not possible to cancel my contribution to the account. It seems like a scam to me
Hello Laura, we have moved your comment to section on Wexness Banc, and there we have answered you.
regards
CAN I RE-OPEN MY MULLER T4 PLATFORM IF MY VIRTUAL STOCKS BROKER. CO CLOSES ME AND WITHDRAWS DEPOSITS WITH A TOTAL LOSS OF 4750 EUROS WITHOUT MY PERMISSION AND BY WAY OF OWN APPROPRIATION (HER). THE TAL BROKER IRENE SERGEEV NEVER GAVE ME THE ACCESS KEY AND TOTALLY CESSED THE ACTIVITY WITH BENEFITS ON THIS PLATORM. E-MAIL [email protected] and possible interested in issues like this. IF IRENE READS THIS MESSAGE YOU CAN STILL SAVE COLLATERAL DAMAGES AND POSSIBLE OTHER LEGAL DAMAGES, IT IS A LIGHT AT THE END OF THE BAD ROAD BUT DEPARTURE AT THE LAST MINUTE: RETURN ME THE 4750 AS A MINIMUM. IF THERE HAS BEEN A THIRD PERSON CAUSING SUCH WITHDRAWAL FROM MY DEPOSIT WHO PUBLISHES IT HERE AND SAVES HIS HONORABILITY, I HAVE REAL AND DEFINITIVE PROOF THAT IT WAS SO. THANK YOU-
Hi Juan, we have responded to your comment in the section on VirtualStocks.
regards
Good day. I decided to invest in "Glad to trade". I was assigned as a broker to a person named MARIO CASTILLO. Is this person trustworthy, is he regulated? He tells me that for this month I will get a minimum profit of 15,000 USD. That to withdraw or have the amount deposited I must deposit 10% of that amount (1500 USD). Is the procedure correct! ?? Is this person trustworthy! ?? I will greatly appreciate your answers to my questions.
Hi Juan, we assume that you mean Glad2Trade, we recommend you then leave your questions or experiences in the section that talks about Glad2Trade.
regards
Hello, what do you think of the IFC Markets broker? Thanks
Hi Luis, here you can read a IFC Markets analysis.
regards
HELLO, I made a small investment in "kontofx" and my broket called me every day to see the performance of my money, but I have traveled abroad and my pc had to change it due to failures with the previous one, I don't know how to get in touch with him, although I already sent an email but they did not respond, the only thing I know is that they are discounting me from my card in dollars, please help me with it, I am in Spain, and the boy's name is Carlos Garcia
Hello Ruth, we recommend you leave your doubts or experience in the section on KONTOFX.
regards
I want to know your comments about the broker CRIPTO MB
Good morning, my name is Carlos and there is a broker named Ulises, he works at MMT investing group, do you have any reviews about this company?
Thank you
Hello Carlos, we recommend you stop by analysis on MMT Investing Group.
Greetings.
This is the FXTRADING page fxtradingcorp .com
Hi Miguel, here you can read a analysis on FXTrading Corp.
Greetings.
Hello, what do you think of FXTrading is it safe to invest?
Hi Miguel, do you have the FXTRADING website?
Hello, what do you think of FCTrading is it safe to invest?
Hi Miguel, do you have the FCTrading website?